Hip Replacement Implant Market is Projected to be Worth US$ 9187.0 mn by 2024

Global Hip Replacement Implant Market: Overview

The global market for hip replacement implant is poised for steadfast growth in the coming years. The surging demand for hip replacement surgeries coupled with rising clinical awareness among patients is fuelling the hip replacement implant market. Increasing adoption of fitness regimes subject to serious injuries is stoking demand for hip replacement implants. As reported, 600,000 hip replacement procedures are carried out each year globally among individuals of 40 to 50 years of age.

Obtain Report Details @

https://www.transparencymarketresearch.com/hip-replacement-implants-market.html

Contracts of product manufacturers with government bodies and other medical device manufacturers to develop cost effective products is further aiding this market’s growth. On the downside, high cost of hip implants and high cost of hip replacement procedure are bottlenecks to the growth of this market.

Considering these factors, the global market for hip replacement implant is predicted to clock 3.9% CAGR from 2017 to 2024.

Hospitals End-use Segment to Continue to Remain at Fore

The hip replacement implant market is segregated depending upon product type, material, end user, and geography. By product type, partial hip replacement, total hip replacement implant, implant, revision hip replacement, and resurfacing implant are the segments into which the hip replacement implant market is divided. Among them, total hip replacement implant is the most lucrative segment driven by the rising prevalence of osteoarthritis and osteonecrosis. Going ahead, the segment is anticipated to account for prominent share in the overall market. The total hip replacement segment is sub-segmented into fixed bearing and mobile bearing. Of the two, fixed bearing accounted for the leading 73.1% share of total hip replacement implant segment in 2015.

Request for Sample Copy of Report @

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1901

Depending upon material, the hip replacement implant market has been segregated into metal-on-metal, metal-on-polyethylene, ceramic-on-polyethylene, ceramic-on-metal, and ceramic-on-ceramic. Metal-on-polyethylene, among them, held the leading share vis-à-vis revenue in 2015; going ahead, the segment is anticipated to hold prominent share driven by increasing prevalence of joint disorders and technological advances. However, ceramic-on-polyethylene material segment is anticipated to surpass other segments in terms of growth rate in the years ahead.

Depending upon end user, hospitals, ambulatory surgical centers, orthopedic clinics, and others are the key segments into which the hip replacement implant market is divided. Hospitals stood as the leading end user holding 64.5% market share in 2015. Hospitals have specialty units for orthopedic surgeries and are equipped with various facilities for pre-operative, post-operative care and for emergencies.

Orthopedic clinics currently hold the second-leading share in the hip replacement implant market. However, the segment is anticipated to display declined share until the end of 2024 due to increasing preference for hospitals as they are equipped with facilities for emergency situations. The others end-use segment comprises community clinics, student health facilities, long term care center, geriatric care center, sports care center, etc.

Vis-à-vis Growth Rate Asia Pacific to Surpass Key Regions

Geography-wise, the report takes stock of the potential of demand of hip replacement implants in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In terms of sales, North America and Europe held 52% and 20.5% respectively of the overall market in 2015. The high incidence of osteoarthritis and osteonecrosis are key factors behind the prominence of the two regions.

Request Report Brochure @

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1901

On the other hand, Asia Pacific is predicted to emerge as an attractive market for hip replacement implants due to modernization of healthcare infrastructure in emerging economies and alliances and partnership practices among players to strengthen technical expertise.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Contact Us

Transparency Market Research

State Tower,

90 State Street, Suite 700

Albany, NY 12207

United States

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

My name is Pragya Tripathi and I work with the Digital Marketing and Editorial team of Transparency Market Research, a market intelligence firms based in India & Usa.